Prospera Energy Inc. GXRFF Archives - Page 2 of 3

TuesdayOct 24, 2023 9:00 am

Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Provides Update on Drill Program; Announces Low-Dilutive Capital Raise

Prospera Energy recently provided an update on the second phase of the company’s restructuring plan With its initial five horizontal wells and incremental crude production tracking ahead of expectations, Prospera have announced plans to continue their second phase beyond its initially mooted ten well program The company has now announced that it will proceed with a low dilutive capital raise of $3 million, with proceeds destined to fund the exploration company’s ongoing capex Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western…

FridayOct 20, 2023 10:30 am

Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Increases Output as Canadian Oil Production Hits Record High

International Energy Agency (“IEA”) forecasts record oil production in Canada, global demand and prices expected to rise as Russia and Saudi Arabia cut production Prospera Energy operates 42,000+ cumulative acres, estimates approximately 8% of over half a billion available barrels was recovered using traditional vertical well technology The company completed Phase 1 of restructuring plan, production expanded from 80 to 1,200 BOE and NPV increased from $3 million to $72 million Phase 2 focuses on horizontal well transformation, piloting an enhanced oil recovery application, executing liability management objectives, and furthering ESG initiatives The company recently completed four horizontal wells of…

WednesdayOct 04, 2023 11:36 am

QualityStocksNewsBreaks – Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Provides Update Horizontal Development Production

Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in western Canada, is reporting that two of its five horizontal wells have begun production over the past week. According to the announcement, each well produced 125 bpd with less than 1% water cut. The company strategically brought these new horizontal wells into production at a low pump efficiency of about 30% in order to accommodate the heavier viscous oil and achieve steady flow, designed to peak over the next few months. The company noted…

MondayOct 02, 2023 11:15 am

Meeting Phase 2 KPIs, Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Emerging as a Model for Sustainable Growth in the Oil & Gas Industry

Prospera in 2021 launched a new strategy to improve margins and oil and gas production while minimizing environmental impact Horizontal well-technology allows for increase in production and Prospera has now abandoned 60 vertical wells as part of its three-year LMRP to reclaim surface land and reduce environmental footprint that will see 200+ vertical wells abandoned Prospera this month completed the drilling of four horizontal wells of a ten-well multi-pad infill drill program that can add an additional ~750 bpd at a low decline to Prospera’s current 900+boepd With more than 42,000 cumulative acres across Cuthbert, Luseland and Heart Hills in…

ThursdaySep 28, 2023 10:30 am

Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Strategically Positioned for Record Growth Amidst Canada’s Push for Sustainability in the Oil and Gas Industry

As one of the oil and gas leaders, Canada is the third-largest holder of proven oil reserves in the world; the country’s oil and gas sector is not only big but also green, positioning Canada as an energy powerhouse with an eye on a greener future The sector reported output growth while slashing emissions, standing as a testament that achieving both growth and environmental sustainability is possible Amid Canada's firm commitment to a greener future, companies like Prospera Energy are set to benefit as the country seizes the opportunity of the burgeoning market while still ensuring sustainability Prospera Energy (TSX.V:…

WednesdaySep 27, 2023 9:39 am

QualityStocksNewsBreaks – Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Releases Update on Drilling Program Update, Announces Capital Raise

Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in western Canada, is reporting on drilling progress and has announced a capital raise. The company is undertaking a nonbrokered private placement of debt financing with plans to raise up to $3 million, offering holders’ interest of 14% per annum, with interest payments to be made quarterly for a term of two years. As part of the offering, holders will also receive one common share for each dollar of principal paid at the time of…

FridaySep 22, 2023 3:45 pm

QualityStocksNewsBreaks – Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Aspiring to Change the Face of the Oil and Gas Industry

Prospera (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focused on Western Canada, appears poised for record growth. This builds on “the success from 2022, when the company realized a net income of $3.1 million and experienced rapid growth when its revenue grew by a staggering 860% in Q2 2022. Prospera Energy expects significant reductions in production costs through 2024 and sizable increases in daily production. The company is currently exploring strategic acquisition targets to diversify Prospera heavy/light/gas product mix and path to 5,000 BPD over the next 24 months while expanding…

TuesdaySep 12, 2023 11:20 am

QualityStocksNewsBreaks – Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Reports on Infill Drilling Program Update, Interest Payable Reduction Settlement

Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in western Canada, has completed the drilling of four of 10 horizontal wells in its current multipad infill drill program. According to the announcement, the wells “encountered structure and pay as expected with excellent oil show throughout the pay.” The company commended Lasso Drilling Corporation and reported that drilling technique tweaked from the pilot wells was executed efficiently and ahead of schedule. The drilled horizontals will be completed and then tied-in to existing infrastructure. Prospera…

WednesdaySep 06, 2023 9:45 am

Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) On Track for Expansion in 2023 Amid Growing Oil and Gas Market in Canada

After a banner year in 2022, Prospera Energy remains poised for rapid growth in 2023; Prospera Energy Inc. recently announced the start of a 10-well horizontal drilling campaign that is intended to capture significant remaining heavy oil reserves The company aims to demonstrate that the coexistence of growth and sustainability is possible; seeks to capitalize on the high-margin potential of its core Canadian properties while steering the oil industry towards greener oil operations and a more sustainable future The company’s high aspirations come amid a burgeoning oil and gas market in Canada, for which 2023 is expected to be one…

FridaySep 01, 2023 1:09 pm

QualityStocksNewsBreaks – Why Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Is ‘One to Watch’

Prospera (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation, and development company focusing on conventional oil and gas reservoirs in Western Canada, uses its experience to develop, acquire and drill assets with potential for primary and secondary recovery. “Prospera’s core properties include more than 42,000 cumulative acres across Cuthbert, Luseland and Heart Hills in Saskatchewan and Red Earth and Pouce Coupe in Alberta. In total, the company estimates that there are half a billion barrels of oil in place at these sites accounting for 20+ years of forward project lifespan, with as little as 8%…

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